William Stanley Jevons Quotes About Utility

Quotes about: Utility

• One of the most important axioms is, that as the quantity of any commodity, for instance, plain food, which a man has to consume, increases, so the utility or benefit derived from the last portion used decreases in degree. The decrease in enjoyment between the beginning and the end of a meal may be taken as an example.

  William Stanley Jevons

  Taken, Men, Important

  William Stanley Jevons (1973). “Papers and correspondence of William Stanley Jevons”

• The difficulties of economics are mainly the difficulties of conceiving clearly and fully the conditions of utility.

  William Stanley Jevons

  Economics, Difficulty, Conceiving

  William Stanley Jevons (1970). “The Theory of Political Economy”, Penguin (Non-Classics)

• The point of equilibrium will be known by the criterion that an infinitely small amount of commodity exchanged in addition, at the same rate, will bring neither gain nor loss of utility.

  William Stanley Jevons

  Loss, Gains, Commodity

  1871 The Theory of Political Economy.

• The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.

  William Stanley Jevons

  Men, Ordinary, Cost

  William Stanley Jevons (1871). “The Theory of Political Economy”, p.32

• My principal work now lies in tracing out the exact nature and conditions of utility. It seems strange indeed that economists have not bestowed more minute attention on a subject which doubtless furnishes the true key to the problems of economics.

  William Stanley Jevons

  Lying, Keys, Attention

  William Stanley Jevons (1871). “The Theory of Political Economy”, p.51

• Repeated reflection and inquiry have led me to the somewhat novel opinion, that value depends entirely upon utility.

  William Stanley Jevons

  Reflection, Inquiry, Opinion

  William Stanley Jevons (1970). “The Theory of Political Economy”, Penguin (Non-Classics)

• Labour once spent has no influence on the future value of any article; it isgone and lost for ever. In commerce bygones are forever bygones; and we are alwaysstarting clearat each moment, judging the values of things with a view to future utility.

  William Stanley Jevons

  Views, Judging, Forever

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